State Transport Leasing Company GTLK

Aktivs

GTLK is the largest leasing company in Russia. Its sole shareholder is the state represented by the Ministry of Transport of Russia. As of October 1, 2019, the volume of GTLK's leasing portfolio amounted to 1.029 trillion rubles, assets under IFRS as of June 30, 2019 exceeded 597 billion rubles.

Services

GTLK specializes in the supply of leasing air, water and railway transport, passenger transport, automobile and special equipment for Russian transport enterprises, invests in the development of Russia's transport infrastructure.

Leasing of digital assets

Performance indicators

2023: Profit - 113 million rubles

In 2023, the State Transport Leasing Company (GTLK) received a net profit of 113 million rubles. For comparison, a year earlier, record losses were recorded - 55.8 billion rubles. Such figures are given in the financial report released on March 20, 2024.

The revenue of GTLK at the end of 2023 amounted to 97.4 billion rubles - without significant changes compared to the previous year. The company's assets increased by 18% - to 1.15 trillion rubles, mainly due to the start of the implementation of projects financed by the National Welfare Fund (NWF), and transactions in new business concluded during the year. The leasing portfolio of GTLK exceeded the mark of 1.5 trillion rubles.

GTLK received a net profit of 113 million rubles

Interest income from financial leasing operations in 2023 rose by 15.5%, reaching 35.715 billion rubles. Other interest income, on the contrary, decreased by 26.5% - to 5.852 billion rubles, while income from operating lease decreased by 5% - to 55.834 billion rubles. The report says about reaching a record volume of new business in the Russian perimeter - more than 225 billion rubles.

In 2023, GTLK contracted the production of 15.5 thousand units of railway rolling stock. About 25% of the total production of freight cars in the Russian Federation falls on orders from GTLK. The company's railway transport fleet exceeded 101 thousand units of equipment. In addition, in 2023, GTLK contracted the construction of about 120 water vessels - this is the maximum volume in the history of the company. GTLK also contracted the production of a record number of aircraft at Russian aircraft plants - 125 units. In 2023, the company put the first unmanned aircraft systems in commercial leasing - 24 pieces, including 6 heavy drones. GTLK shipped a record number of public transport - about 3 thousand units, primarily buses.^[1]

2022: Record loss - 55.8 billion rubles

The net loss of the State Transport Leasing Company (GTLK) according to international financial reporting standards (IFRS) in 2022 reached 55.8 billion rubles, while a year earlier net profit was recorded at 0.99 billion rubles. At the same time, revenue rose by 30%, to 44.3 billion rubles, due to an increase in the volume of assets and an increase in profitability on existing assets in the new conditions. The largest Russian leasing company published such data on April 12, 2023.

This is the maximum loss under IFRS in history for the GTLK group, which is due to the introduction of blocking sanctions against the group's companies by the United States, the European Union and the United Kingdom, the GTLK said in a statement.

According to the company, as a result of the restrictions imposed by the United States, the EU and Britain, the activities of the international leasing platform GTLK Global, which accounted for up to a third of the total revenue of GTLK and assets of about $4.6 billion, were stopped.

In April 2022, she fell into the fifth package of EU sanctions, introduced against the background of Russia's special military operation in Ukraine. Restrictions were imposed on the export and import transactions of GTLK and its subsidiaries, and a ban on access to the ports of the European Union was introduced against the group of sea vessels under control.

In 2022, GTLK was capitalized by 58.3 billion rubles from the National Welfare Fund (NWF), which during the turbulence period made it possible to neutralize the negative consequences of sanctions and freezing of international business and ensure the stability of the company's business, while maintaining capital adequacy at the same level. Under the current conditions, GTLK has rebuilt and focused on business development in Russia. The company sees itself as a tool for the development of the transport industry and the basic customer of Russian mechanical engineering products, the press service of GTLK said.^[2]

History

2024

The Ministry of Industry and Trade ordered 3 thousand civilian drones for 6.4 billion rubles for government agencies

The volume of civil state orders for unmanned aircraft systems (ALS) in 2024 is about 3 thousand units in Russia. Their total cost is estimated at about 6.4 billion rubles. Such figures in early June 2024 were published by the Ministry of Industry and Trade.

As the deputy head of the Ministry of Industry and Trade of the Russian Federation Vasily Shpak noted, all purchased drones must meet the localization criteria. The only supplier of drones under a state civil order is the State Transport Leasing Company (GTLK). Shpak emphasizes that the serial order will help reduce the selling prices for drones.

The volume of civil government orders for ALS in Russia is about 3 thousand units

GTLK will buy ALS from manufacturers and then supply them to federal executive bodies and their subordinate institutions. In terms of fulfilling the civil state order, GTLK will act as a "one-stop shop" system for ALS customers and suppliers, Shpak said.

Earlier it became known that the Ministry of Industry and Trade has determined the parameters of the civil state order for drones for government agencies, subordinate institutions and state-owned companies until 2030. During this period, it is planned to purchase 12.9 thousand units of equipment for a total amount of 187.7 billion rubles. Of these, about 93.1 billion rubles will be allocated in 2024-2026, another 94.7 billion rubles - in 2027-2030.

Suppliers of drones for government agencies will be, in particular, Albatros, NCV Miles and Kamov, Transport of the Future, Aeromax, Aerodin, Geoskan, GloryAir, Radar mms, T1-Aero and others. All drones are divided into eight categories: light and medium helicopters, medium and heavy helicopters, light, medium and heavy multirotors and educational drones. The state order will be updated every six months, taking into account market changes.^[3]

Appointment as the only supplier of flying drones on public procurement

Prime Minister Mikhail Mishustin signed a decree appointing the State Transport Leasing Company (GTLK) as the only supplier of unmanned aircraft systems (ALS) as part of the implementation of the state civil order in 2024-2025. The corresponding document was published on April 16, 2024.

It follows from it that by state civil order, unmanned aviation systems from GTLK can order 29 departments and institutions, including Rosleskhoz, Rosgvardia, Rosprirodnadzor and others.

The Russian government has appointed GTLK as the only supplier of flying drones on public procurement

According to the forecasts of the deputy head, in Ministry of Industry and Trade Vasily Shpak 2024 Russia the production of civilian drones in should approach 18 thousand units and in the future will continue to grow, exceeding 30 thousand units in 2030. The release will only grow, satisfying the needs of various sectors of the economy and at the same time strengthening the technological sovereignty of domestic unmanned aviation, Shpak emphasized.

It is assumed that the consolidator of federal demand for drones will be GTLK, which also plans to launch the first drone marketplace in Russia and develops its own drone operator. According to First Deputy Prime Minister Andrei Belousov, the State Transport Leasing Company will play a key role in shaping demand for unmanned products. He noted that GTLK will work with manufacturers, form lines of finished products and cooperate with operators.

On April 1, 2024, GTLK announced a loan of 50 billion rubles from Alfa-Bank. Loans provided for seven years will be used to finance transactions in a new business in 2024 for the acquisition of domestic transport equipment

Order of the Government of the Russian Federation No. 933-r dated 16.04.2024

Ministry of Transport allocated 2.5 billion rubles for preferential leasing of drones

The Government of the Russian Federation approved the additional issue of GTLK JSC in the amount of 2.5 billion rubles. This was announced on March 12, 2024 by Interfax.

The decision was made by the Ministry of Transport and the Ministry of Finance. As part of the additional issue, 250 thousand additional ordinary shares with a face value of 10 thousand rubles will be issued. The offering price is equivalent to the par value of the shares. The papers will be issued in favor of the Ministry of Transport of the Russian Federation.

GTLK will receive 2.5 billion rubles for the program of preferential leasing of civil drones

Before the additional issue, the authorized capital of the State Transport Leasing Company is more than 174 billion rubles. According to the results of the additional issue, it will grow by 1.4%.

In December 2023, it was reported that Russia would provide GTLK with a contribution of 2.5 billion rubles to the authorized capital to launch a program of preferential leasing of civilian drones. It was assumed that budget funds will be directed on co-financing terms, and GTLK itself will find another 600 million rubles for the program. The leasing rate should range from 3.5% to 8.5% per annum, depending on the type of UAV. Drones are supplied for a period of three to five years. At the same time, as follows from the order of the government, leasing companies will not need to make advance payments.

According to Kommersant, the volume of the program of preferential leasing of drones from the State Transport Leasing Company until 2030 may amount to 61 billion rubles, including 24 billion rubles from the budget. With these funds, GTLK plans to purchase and lease 8 thousand drones, according to the publication of the publication.

GTLK is engaged in leasing equipment and equipment for transport companies and companies from other industries. The sole shareholder of the company is Russia. GTLK is managed by the Ministry of Transport and the Ministry of Finance.^[4]

2023

The government has launched a program of preferential leasing of civilian drones and will spend 2.5 billion rubles on it

On December 21, 2023, the Government of the Russian Federation announced the launch of a program of preferential leasing of domestic drones. 2.5 billion rubles are allocated for its implementation. The corresponding order was signed by Prime Minister Mikhail Mishustin.

As indicated in the document, these funds will be received by State Transport Leasing Company JSC (GTLK JSC) on co-financing terms. GTLK JSC, in turn, will attract another 600 million rubles to launch the program. Taking this into account, the leasing rate, depending on the types of drones selected, will range from 3.5 to 8.5% per annum. The term of the contract is from three to five years. At the same time, advance payments from lessee companies will not be required.

The Government was instructed to take measures to stimulate demand for domestic unmanned aircraft systems, including through the development of a preferential leasing mechanism, the President instructed in December 2022.

The Cabinet of Ministers adds that to take measures for stimulation of demand for pilotless aircraft systems of domestic production, including due to development of the mechanism of preferential leasing, in December, 2022 the president Vladimir Putin charged. The launch of the program of preferential leasing of Russian drones is scheduled for 2024.

In early June 2023, the head of the State Television and Radio Broadcasting Company Yevgeny Dietrich said that in 2024-2025. the company intends to purchase about 12 thousand civilian drones for subsequent leasing. In 2023, GTLK planned to purchase about 200 drones. Also, GTLK plans to launch a marketplace of civilian drones in 2024. At this site, it will be possible to order both various types of unmanned aviation systems (ALS) and services using them (aerial laser scanning, magnetic shooting, rental of unmanned complexes, aerial photography, assessment of the state of power lines, thermal imaging, 3D models of territories).

Government of the Russian Federation Order of December 16, 2023 No. 3696-r

Mishustin allocated 44 billion rubles for the purchase of domestic buses

At the end of January 2023, Prime Minister Mikhail Mishustin signed an order, which allocated 44 billion rubles to update the public transport fleet in the regions. We are talking about an investment project for preferential leasing of domestic buses, included in the list of self-sustaining projects that receive funding from the National Welfare Fund (NWF) on a return basis. Read more here.

2022

Please allocate another 10 billion rubles for preferential leasing of hardware within the framework of the Digital Technologies fedproject

State transport The "leasing company" (GTLK) asked to allocate electronic engineers an additional 10 billion for the state program of preferential leasing and computer technology. rub This is necessary, according to the company, to increase the pace, import substitution writes "" with Businessman reference to a letter Eugene Dietrich from the general director of GTLK to the head of Ministry of Digital Development Maksutu Shadayev June 27, 2022. This became known on July 14, 2022.

Russian companies will have to carry out large-scale import substitution measures, preferential leasing is an optimal tool that will allow the transformation process to begin as quickly as possible without significant capital diversion, "said GTLK.

The total potential for the implementation of the program until 2024 in GTLK is estimated at 28 billion rubles. cumulative total. The passport of the federal project "Digital Technologies" (part of the national project "Digital Economy") for July 2022 refers only to 8.6 billion rubles.. In 2022, the program provides for the conclusion of transactions for 1.5 billion rubles. with a volume of requests for leasing projects of 5.5 billion rubles.

Budget investments under the preferential program are directed to the purchase of equipment with software, telecommunications digital equipment, software and hardware systems and engineering systems, with an emphasis on the implementation of Russian solutions.

According to GTLK, in 2020-2022. under this program, 45 thousand units of domestic equipment were delivered. Aquarius and Yadro both refrained from commenting. The Ministry of Digital Development said that they support all ways to stimulate an increase in the share of Russian equipment in the^[5] market^[6]

Official announcement of the creation of a company to provide drone transportation services

On June 16, 2022 , the State Transport Leasing Company (GTLK) and the National Technology Initiative Project Support Fund (NTI) signed an agreement on the creation of a new company that will provide services for aerial photography and monitoring of facilities, as well as for the transportation of goods by unmanned aircraft. Read more here.

Board update

According to Order Ministry of Transport of the Russian Federation No. ICH-59-r dated March 3, 2022 "On Decisions of the Extraordinary General Meeting of Shareholders of State transport Leasing Company JSC," a new composition of the Board of Directors of GTLK JSC was elected in the amount of 11 people. The Minister transport of the Russian Federation, who Vitaly Savelyev previously headed the board of directors of the company, resigned ahead of schedule. GTLK announced this on March 4, 2022.

The Board of Directors of GTLK JSC included (in alphabetical order):

1. A.I. Boginsky - General Director of the public joint-stock company "Research and Production Corporation" Irkut ";

2. O.E. Bocharov - Deputy Minister of Industry and Trade of the Russian Federation;

3. E.I. Dietrich − General Director of State Transport Leasing Company;

4. A.A. Kostyuk − First Deputy Minister of Transport of the Russian Federation;

5. M.S. Liksutov − Deputy Mayor of Moscow in the Government of Moscow, Head of the Department of Transport and Development of Road Transport Infrastructure of Moscow;

6. I.A. Okladnikova − Deputy Minister of Finance of the Russian Federation;

7. D.N. Peskov − Special Representative of the President of the Russian Federation for Digital and Technological Development (Independent Director);

8. M.I. Poluboyarinov − General Director of Public Joint Stock Company Aeroflot − Russian Airlines;

9. A.I. Poshivay − Deputy Minister of Transport of the Russian Federation; 10. ON O.N. Ryazantsev − Deputy Minister of Industry and Trade of the Russian Federation;

11. A.K. Uvarov − Deputy Chief of Staff of the Government of the Russian Federation^[7]

2020: Receiving 3 billion budget funds under the Digital Economy project

In January 2020, the State Transport Leasing Company (GTLK) announced the receipt of 3 billion rubles. budget funds within the framework of the federal project "Digital Technologies" of the national program "Digital Economy of the Russian Federation." The funds were allocated to support the "Program of preferential leasing of digital assets" of GTLK, aimed at leasing digital equipment and software under preferential conditions for enterprises of key areas of the economy, social sphere and state institutions.

It is expected that the total volume of non-commercial leasing transactions under this program in 2020-2024 will amount to more than 10 billion rubles. Financing of the program of preferential leasing of digital assets prepared at GTLK will be carried out at the expense of budgetary and extrabudgetary sources. The advantage will be given to solutions based on domestic developments, which "will allow Russian enterprises to expand the market for the application of their developments by 2024," the company said in a statement.

GTLK also plans to increase the share of purchases of domestic software to at least 85% by 2021. According to the company's 2019 report, the share of purchases of Russian software and services for their implementation, maintenance and support has already reached 87.6%.

According to GTLK, the budget investments received by the company are supposed to be directed to the purchase of equipment with software, telecommunications digital equipment, software and hardware systems and engineering systems, with an emphasis on the implementation of Russian solutions.

It is expected that in addition to the economic effect for manufacturers and developers, the preferential leasing program will solve the needs of the domestic economy in digital equipment and software.

In 2019, GTLK purchased Russian server and user operating systems, office software, etc.

2019

A. Lebedev sold 80% of the shares of the National Reserve Bank to GTLK

In December 2019, Russian businessman Alexander Lebedev sold his main asset - the National Reserve Bank (NRBank). Lebedev owned 80% of the shares of the credit institution. The controlling stake in the bank was bought by the State Transport Leasing Company (GTLK). The specific parameters of the transaction are not disclosed.

At the beginning of 2013, Alexander Lebedev announced to Kommersant his intention to sell the NRB. In 2015, the bank closed all its branches in the regions and left only a branch in Moscow. In terms of assets, which is 16 billion rubles, in the summer of 2019 he occupied 161 places in the country's banking system.

Inclusion in the circuit of the national program "Digital Economy of the Russian Federation"

In October 2019, GTLK was included in the contour of the national program "Digital Economy of the Russian Federation"

Agreement with Softline on cooperation on a number of national projects

The company Softline State transport and the leasing company (GTLK) signed an agreement of intent on August 30, 2019. The document was signed by the global CEO of Softline Group of Companies Sergey Chernovolenko and the CEO of State the transport leasing company. Sergey Khramagin The companies plan to work together within the framework of a number of national projects, including "" and "Digital economy Safe and High-Quality Roads," as well as the development of innovative - IT products for Russian and foreign users, Softline reported on September 3, 2019.

Including GTLK and Softline are planning the implementation of projects for leasing hardware and software systems and smart equipment systems, automation of weight and dimensional control systems and photo and video recording, payment for urban transport, as well as the development of automated traffic control systems ASUDD Traffic SL in Russian regions within the framework of the Smart City concept.

It is expected that the use of new technologies will provide an opportunity to optimize the management and transparency of cash flow in transport infrastructure, while ensuring the attractiveness of public transport for the population. Within the framework of the agreement, it is also planned to cooperate in the field of high technologies, including the joint development and implementation of innovative IT products for users both in the Russian Federation and for export to other countries.

Our company has been developing digital technologies in Russia and abroad for many years. We discussed with the partner, in particular, the possibility of cooperation on a number of national projects, including Digital Economy and Safe and High-Quality Roads. In partnership with GTLK, we intend to develop the service business, as well as improve the quality of transport systems management and the overall penetration of new technologies in the Russian regions and other countries of Softline's presence, "said Sergey Chernovolenko, Global CEO of Softline Group of Companies.

2013: Debut issue of RUR 20 bln bonds placed

In January 2013, the MICEX debut issue of bonds with the volume of 20 billion rubles.

In July, the company entered Asian financing markets.

2012: GTLK Europe Dublin subsidiary established

In May 2012, a subsidiary of GTLK Europe was established in Dublin (Ireland).

2010: Entering New Market Segments: Rail and Water Transport

In 2010, the line of programs was expanded in new segments of the leasing market:

• railway
• water transport
• aviation equipment

2009: Russian Ministry of Transport transferred powers to exercise shareholder's rights

In 2009, the Ministry of Transport of Russia was transferred powers to exercise shareholder rights.

2006: Company transformed into GTLK

In 2006, CJSC Leasing Company of Civil Aviation was transformed into OJSC State Transport Company (GTLK), 100% of whose shares are in federal ownership.

2001: Establishment of the "Civil Aviation Leasing Company"

In 2001, the Civil Aviation Leasing Company CJSC was created

Notes